Bitcoin Shows Strong Consolidation as Market Awaits Next Big Move
Bitcoin (BTC) continues to trade in a tight range around $102,000, showing resilience despite market volatility.
Analysts note that long-term holders are still accumulating, indicating confidence in the asset’s future growth.
On-chain data shows a significant number of addresses adding to their positions around the $100K zone, creating a strong support level.
Recent macroeconomic reports from the U.S. have also influenced short-term market sentiment, with investors closely monitoring inflation and interest rate updates.
Despite short dips, BTC dominance in the market remains above 53%, suggesting traders continue to view Bitcoin as the safest crypto asset.
Experts believe that if BTC maintains momentum above $100K, it could potentially retest the $110K resistance before year-end.
The broader sentiment remains cautiously bullish, with growing institutional interest fueling optimism for another potential rally.
